IRVINE, Calif., May 23, 2012 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (OTCMarkets:UBRG), a publicly traded independent diversified energy company, that markets natural gas, propane, and produces petroleum and coal, announced today that NDR Energy Group, its subsidiary located in Charlotte, North Carolina, signed a new agreement to obtain natural gas supplies with a major natural gas supplier on the west coast. This agreement with this supplier will give NDR Energy Group strategic access to major supplies of natural gas to supply its electric utility customers gas for distribution, power generation and for NDR Energy's gas storage requirements.
The gas supplier focuses on supply aggregation, transacts with producers, industrial and commercial end-use customers, electric generators, gas distribution utilities and wholesale customers in natural gas, electric power and related energy businesses. This contract allows NDR Energy to conduct business with a knowledgeable and financially strong company managed by professionals with hands-on experience in the industry. The company's parent company reported revenues of over $6.44 billion in its 2011 Annual Report, is headquartered in Tokyo, Japan and has offices in 73 countries around the world, with offices in 10 major U.S. cities and throughout the American hemisphere. It is actively involved in projects for oil and natural gas development as well as long-term projects for LNG. It also has production in the North Sea, Indonesia, the Middle East and the United States and is working to acquire further production and exploration interests in Asia and Oceania.
NDR Energy Group's, President and CEO Ken Harris stated: "I am excited to announce that as of this week, our NAESB contracted relationship with our new supplier is on line. This has been a complex process as our use of the Funds Transfer Agent Agreement requires a skillful set up of the relevant banking relationships. Once that process was completed, the supplier relationship became active."
Harris goes on to say, "This supplier is extremely strong concerning the delivery of natural gas to the western states. We continue to sell more and more gas in the western United States. So, the timing could not be better. Diversifying our supplier base is a critical part of our strategy to grow our margins. Additionally, we fully intend to leverage our new found supplier options and capitalize on the new dynamic whereby our suppliers compete for the many opportunities. The contract limits NDR Energy from disclosing the customer's name and certain details of the transaction."
About NDR Energy Group LLC
Founded in 2005, NDR Energy Group, headquartered in Charlotte, N.C., is an energy company that markets and distributes natural gas and propane (HD-5), to major electric utilities and municipalities throughout the U.S. NDR provides energy management services to assist its clients in finding efficient and economic solutions. We also can provide other energy products such as refined petroleum products, energy efficient lighting systems and sustainable, alternative and renewable energy solutions to reduce our client's energy costs. For more information visit www.ndrenergy.com.
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About Universal Bioenergy Inc.
Founded in 2004, Universal Bioenergy Inc., is a publicly traded independent diversified energy company that produces and markets natural gas, petroleum, coal and propane. We market energy resources to the largest public utilities, electric power producers and local gas distribution companies in the U.S., that serve millions of commercial, industrial and residential customers. We are also engaged in the acquisition and development of existing or recently discovered oil and gas fields, leases and surface coal mines. For more information visit www.universalbioenergy.com
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